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Nov 30, 2012
11/12
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mitch mcconnell's kentucky is horse country. of the states represented by top congressional leaders, it's the reddest of all. >> among the top leaders of congress involved in fiscal cliff negotiations, the one facing the most home state pressure may be senate republican leader mitch mcconnell. he faces re-election in kentucky, a state where the tea party movement is alive and well. president obama may have won this election but two years ago leaders of the tea party movement elected ron paul's son rand as kentucky senator over an establishment republican. one leader of that movement who runs a high-end audio equipment business says they could do the same thing in 2014, and this time take out mitch mcconnell if he agrees to raise taxes. >> we shall not raise taxes in this country. we do not have a revenue problem. i would like senator mcconnell to recognize that the washington leaders are like a bunch of crack addicts. they need evermore money for evermore growing government and it is at the expense of the ordinary citizen that t
mitch mcconnell's kentucky is horse country. of the states represented by top congressional leaders, it's the reddest of all. >> among the top leaders of congress involved in fiscal cliff negotiations, the one facing the most home state pressure may be senate republican leader mitch mcconnell. he faces re-election in kentucky, a state where the tea party movement is alive and well. president obama may have won this election but two years ago leaders of the tea party movement elected ron...
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Dec 27, 2012
12/12
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. >> senate republican leader mitch mcconnell adding his voice to a day that has seen a number of people talking, including that man, harry reid, the majority leader of the senate. we've been getting mixed signals. the biggest signal we got was regarding the house which is coming back to -- reconvening sunday night, and that brought the market back in a big way, but now we're hearing from mitch mcconnell and let's bring in eamon javers there on capitol hill, i mean, the rumor had been, a lot of traders talking here, eamon, that maybe there's a dell brewing between the president and the senate. that doesn't sound like anything is going on right now according to rich mcconnell. >> what we got was a facebook post from scott brown who said he was come back to washington and jumping on an airplane to review some new proposal from the president that they expected to get. the whole afternoon has been spent by reporters trying -- trying to figure out what was going on. now harry vaed responding to mcconnell so let's right to it. >> he's upset because, quote, the phone never rang. he complains i'
. >> senate republican leader mitch mcconnell adding his voice to a day that has seen a number of people talking, including that man, harry reid, the majority leader of the senate. we've been getting mixed signals. the biggest signal we got was regarding the house which is coming back to -- reconvening sunday night, and that brought the market back in a big way, but now we're hearing from mitch mcconnell and let's bring in eamon javers there on capitol hill, i mean, the rumor had been, a...
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Dec 24, 2012
12/12
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i think a lot of it depends on mitch mcconnell, the senate minority leader, if he decides to allow a bill to move forward on the floor. >> is there anything going on behind the scenes that we don't know about? >> there is. the president's playing golf in hawaii. there's nothing going on behind the scenes. >> there's not some -- >> meetings going on in the white house, there's not staff -- >> lining up a putt? >> no, which is difficult, because there's lots of other stuff that has to go into what the president talks about before he left on friday, which is the tax rates. he didn't talk about payroll tax cut, amt, a number of things. there's a lot that has to go into a final deal and how they get that done. >> my worry is we're not talking about early january, we're talking about late january. >> i think it's probably more mid january if we go over. because i think you'll see market reaction, and you'll see a lot of people freak out, and it's a problem. >> market reaction, would you think -- >> people still think it's, you know, we get a deal. last-minute deal. i tend to be an optimist
i think a lot of it depends on mitch mcconnell, the senate minority leader, if he decides to allow a bill to move forward on the floor. >> is there anything going on behind the scenes that we don't know about? >> there is. the president's playing golf in hawaii. there's nothing going on behind the scenes. >> there's not some -- >> meetings going on in the white house, there's not staff -- >> lining up a putt? >> no, which is difficult, because there's lots of...
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Nov 27, 2012
11/12
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and mitch mcconnell is quoting as saying democrats are not turning off the campaign which implies they are sticking to the party lines not willing to compromise which gives the markets a picture of just -- >> it is the same that we have had for over a year and the same we will have until we get a deal. what mitch mcconnell was saying moments after harry reid spoke is he doesn't like the fact that the president is going to pennsylvania to do a campaign style speech about the fiscal cliff to try to rally people to his way of thinking. he thinks that is sorlt of a permanent campaign but the white house thinks they will put political pressure on public pressure on republicans to get to the deal because they think they have the more popular side of the argument. what we are seeing is this negotiation going on. we are going to keep seeing that so people shouldn't necessarily start to freak out. >> obama is going to a toy factory, correct, tomorrow? a toy factory during the holiday shopping season ahead of christmas. >> tomorrow he will be meeting with ceos including goldman sachs and some wi
and mitch mcconnell is quoting as saying democrats are not turning off the campaign which implies they are sticking to the party lines not willing to compromise which gives the markets a picture of just -- >> it is the same that we have had for over a year and the same we will have until we get a deal. what mitch mcconnell was saying moments after harry reid spoke is he doesn't like the fact that the president is going to pennsylvania to do a campaign style speech about the fiscal cliff...
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Dec 1, 2012
12/12
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this is what mitch mcconnell said. "higher medicare premiums for the wealthy, an increase in the medicare eligibility age, and a slowing of costs of living increases for programs like social security. and then republicans would agree to include more tax revenue in the deal but not from higher tax rates." now, let's just look at this for a second. we'll go to you first, nan. he wants medicare eligibility, he wants medicaid reforms, he wants spending cuts. then he'll talk revenues. that seems reasonable to me. is he going to do it? will the republicans come back with their own counter offer? >> well, certainly larry those are elements of a long-term approach to our enormous debt. it's a crushing debt. it hams our vulnerability across the world. i think we should look very seriously yet again and the speaker's mentioned it at the 2010 health law, affordable care act. that is a massive cost weight on the american people. it is a deeply unpopular issue. still it was relatively ignored during the election but it's still an a
this is what mitch mcconnell said. "higher medicare premiums for the wealthy, an increase in the medicare eligibility age, and a slowing of costs of living increases for programs like social security. and then republicans would agree to include more tax revenue in the deal but not from higher tax rates." now, let's just look at this for a second. we'll go to you first, nan. he wants medicare eligibility, he wants medicaid reforms, he wants spending cuts. then he'll talk revenues. that...
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Dec 5, 2012
12/12
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but he got the backing of mitch mcconnel. take a listen to what he had to say. >> i think it sis important tha the house leadership is trying to mov move it forward. i had hoped that we would be accomplishing more in the real talks. but i can tell you, there is nothing going on privately that is not going on publicly. even as he has to deal with this rebellion. he has to deal with democrats and harry reid's comments today give you a sense of where they are coming from. >> they have to come up with specific revenue. and they refuse to do that. it is a simple question of arithmetic. you can't get from here to there unless you raise the rates. so as you know in washington, a rebellion in the ranks like this could be a problem. but in the spohort-term, if it remains constrained. it could be a good negotiating term. he could say i have offered everything that i have and still get this thing passed. you know, i never hear the discussion about spending. i'm not saying you. it is about taxes and revenues. they are supposed to have a
but he got the backing of mitch mcconnel. take a listen to what he had to say. >> i think it sis important tha the house leadership is trying to mov move it forward. i had hoped that we would be accomplishing more in the real talks. but i can tell you, there is nothing going on privately that is not going on publicly. even as he has to deal with this rebellion. he has to deal with democrats and harry reid's comments today give you a sense of where they are coming from. >> they have...
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Nov 28, 2012
11/12
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if the democrats say it is off the table and if harry reid is trading bars with mitch mcconnel, what is up here. senator durban said, it shouldn't be ps deal. i don't think there is a bar gain to be had. it is a win win for alabama. he is going to get the tax hikes or the rb ares will say no deal and he gets the tax hikes which is what he will prefer anyway. that is a big pot of money he can use for whatever he wants. they are still not going to be a deal. baker, democrats saying there is no problem with social security, even though the piece in the "wall street journal" today said they are $20 trillion in the hole. they said they are $40 trillion in the hole. how can democrats argue that with a straight face. i know that stuff inside and out. most of those shortfalls are in the 22nd century. we don't have a big problem with those programs. in fact most of the story is health care. the budget office may adjust their projections and the story disappears. i know people like to run aaround with that but it doesn't make sense. >> what me worry scenario. medicare no problem. medicaid no p
if the democrats say it is off the table and if harry reid is trading bars with mitch mcconnel, what is up here. senator durban said, it shouldn't be ps deal. i don't think there is a bar gain to be had. it is a win win for alabama. he is going to get the tax hikes or the rb ares will say no deal and he gets the tax hikes which is what he will prefer anyway. that is a big pot of money he can use for whatever he wants. they are still not going to be a deal. baker, democrats saying there is no...
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Nov 29, 2012
11/12
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mcconnell's office today. we know they're speaking to one another. we don't know what they're saying. this is very much a negotiation. john boehner was offered the opportunity earlier today at his press conference to say that talks had broken down or he was walking away from talks. he kind of laughed that question off and said, no, no, no, that's not what i'm saying. so publicly, we're going to see a lot of bluster. behind the scenes, they are talking. >> all right. it's still windy in washington right now. >> thanks, eamon. see you later. we're in the final stretch of trading. this market has given up much of an earlier rally. up about 28 points on the dow industrials after being up 77 points earlier. >> deal or no deal? there's always a way to make money in the markets. our pros will tell you how you should be investing ahead of this mess being cleaned up in washington. compromise. what a concept. >> we'll see. >>> then find out how barry sternlicht is allocating capital today. he'll join me at 4:10 today. b
mcconnell's office today. we know they're speaking to one another. we don't know what they're saying. this is very much a negotiation. john boehner was offered the opportunity earlier today at his press conference to say that talks had broken down or he was walking away from talks. he kind of laughed that question off and said, no, no, no, that's not what i'm saying. so publicly, we're going to see a lot of bluster. behind the scenes, they are talking. >> all right. it's still windy in...
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Jun 8, 2012
06/12
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thune is close with mitch mcconnell, so brings you everything that romney wants, the beltway experience, but respected by conservatives without the bush ties, but portman is so well-respected, i don't see him dropping too much. >> thune is cheap, his symptom is 2.1% chance of victory. larry sabato. i i've got some fair values here. we've talked about jindal. tim pawlenty 6.5% chance, mitch daniels, of.5% chance and chris christie, 6.8% chance, what do you make of christie off the top of your head, larry? >> you know, look, larry, chris christie should be running for president, as a vice presidential candidate, i think he would be on the front page probably two or three times as often as mitt romney, which is exactly what you don't want. so, no, i don't think he's an ideal vp candidate, and he can't carry new jersey. this is about the electoral college. it's amazing how fee people can keep their focus on getting to 270. portman is worth 18 electoral votes. john thune? three votes in south dakota that's automatically republican? i mean, come on. >> last one, bob costa, the quote on tim pa
thune is close with mitch mcconnell, so brings you everything that romney wants, the beltway experience, but respected by conservatives without the bush ties, but portman is so well-respected, i don't see him dropping too much. >> thune is cheap, his symptom is 2.1% chance of victory. larry sabato. i i've got some fair values here. we've talked about jindal. tim pawlenty 6.5% chance, mitch daniels, of.5% chance and chris christie, 6.8% chance, what do you make of christie off the top of...
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Dec 21, 2012
12/12
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the question is going to be does mitch mcconnell, who has been standing on the sidelines concerned by the inability of the house republicans to act, which he steps in and makes or permits a deal again reid and the president and republicans and the senate. >> john, walk us through the per mutations. >> the permutations are that the president, mitch mcconnell and harry reid negotiate a deal. you get a certain slug of republican senators -- there is a by partisan majority in the senate. there's one in the house, as well, if it were allowed to work its will. but in the senate, you have the kind of deal that was negotiating. if they pass that with a large vote on the senate, the pressure with the speaker to allow a bipartisan vote would be very intense. so the question is going to be can they do that on the senate side? if they can't, we'll be left with a situation where taxes go up on everybody. then the administration will propose to shield people 250,000 and below. challenge republicans to oppose it and they'll have to figure out some way to turn off the automatic spending cuts sequeste
the question is going to be does mitch mcconnell, who has been standing on the sidelines concerned by the inability of the house republicans to act, which he steps in and makes or permits a deal again reid and the president and republicans and the senate. >> john, walk us through the per mutations. >> the permutations are that the president, mitch mcconnell and harry reid negotiate a deal. you get a certain slug of republican senators -- there is a by partisan majority in the...
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Nov 28, 2012
11/12
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a rocky ride in yesterday's session as comments from harry reid and mitch mcconnell sent stocks to session lows. this morning we look to open to the downside. implied open down 25. s&p looking to lose five. beige book home sales ahead. as for picture in europe, a bailout for four spanish banks getting approval from the eu. still stocks are down. italy down by almost one full percentage point. road map for the morning starts off with the fiscal cliff. the president meeting with more ceos today bringing his plan straight to the people culminating in an appearance in a factory later this week. >> costco joins the dividend parting initiating a $7 a share payout on top of the regular dividend. >> and a shake-up at groupon. the board may be considering co-founder being released. >> there's powerball fever. 500 million big ones in the pot. how would you spend the money and how does the fiscal cliff factor in? we'll talk strategy with a former lottery winner. >> we begin with the fiscal cliff. this afternoon president obama is scheduled to meet with several business leaders including ceos of home
a rocky ride in yesterday's session as comments from harry reid and mitch mcconnell sent stocks to session lows. this morning we look to open to the downside. implied open down 25. s&p looking to lose five. beige book home sales ahead. as for picture in europe, a bailout for four spanish banks getting approval from the eu. still stocks are down. italy down by almost one full percentage point. road map for the morning starts off with the fiscal cliff. the president meeting with more ceos...
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Dec 3, 2012
12/12
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but the speaker and mitch mcconnell are speaking very vaguely about revenue. they're not talking about specific revenue, where it comes from, they're not talking about specific cuts. they're simply saying, we're willing to raise revenue. well, that's great. why? what the president did this last week is he put a plan on the table and say, here is my plan. if you have a better plan, i want to see it. right now, wa he's doing, he's shadow boxing. they're saying things rhetorically, but they're not putting any specific -- >> it's december 3rd. >> it's december 3rd. >> but my concern is, the president put a big number on the table with regard to taxes and a small new number on the table with regard to spending. we are mixing things. we have to avoid the fiscal cliff, do a meaningful down payment on spending and taxes, build a bridge to a grand bargain. the big deal is going to be done next year. this year, the objective ought to be in the short-term reduce the deficit for next year and our long-term goals, baselines are gains. they could be manipulated by all sides
but the speaker and mitch mcconnell are speaking very vaguely about revenue. they're not talking about specific revenue, where it comes from, they're not talking about specific cuts. they're simply saying, we're willing to raise revenue. well, that's great. why? what the president did this last week is he put a plan on the table and say, here is my plan. if you have a better plan, i want to see it. right now, wa he's doing, he's shadow boxing. they're saying things rhetorically, but they're not...
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Nov 30, 2012
11/12
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. >> in the meantime, there was an audible gasp from mitch mcconnell when geithner laid it out. >> mcconnell called conservative writers in town that he burst out laughing when geithner laid this proposal on the table yesterday. it's clearly not the kind of proposal that will be the frame work for a final deal but definitely the white house saying we're negotiating from a position of strength. the polls support us on this. election results support us on this and we have white house and senate and you republicans only have house of representatives. you're going to need to come toward us in these negotiations. this is the biggest poker game in human history. there's a lot of bluffing and gambling going on here. that's what we're watching. >> it's not happening in 3:00 in the morning in vegas. that's a good way of putting it. thank you. we'll talk to you later on. >>> zynga taking a hit after announcing yesterday that facebook has amended an agreement that gave zynga strong access to the social network's 1 billion users. the change will take place on march 31st and end zynga's ability to promot
. >> in the meantime, there was an audible gasp from mitch mcconnell when geithner laid it out. >> mcconnell called conservative writers in town that he burst out laughing when geithner laid this proposal on the table yesterday. it's clearly not the kind of proposal that will be the frame work for a final deal but definitely the white house saying we're negotiating from a position of strength. the polls support us on this. election results support us on this and we have white house...
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Dec 24, 2012
12/12
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. >> now the focus shifted to mitch mcconnell. the senate taking the lead on a compromise with democrats, and something that can get some support among house republicans. carl? >> hampton, thank you very much. hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. to the best vacation sp(all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, loui
. >> now the focus shifted to mitch mcconnell. the senate taking the lead on a compromise with democrats, and something that can get some support among house republicans. carl? >> hampton, thank you very much. hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a...
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Nov 9, 2012
11/12
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i don't think mitch mcconnell's was. >> neither was harry reid for that matter. >> that's fair. >> this agreement, becky, is going to be between the speaker and the president. be honest if you want to do this agreement the speaker and the president should sit down without any staff in the room and reach the parameters of it. >> can they do that before boehner goes with his party for just to make sure he's still the leader? i've heard you have to wait until the end of -- >> becky, i totally disagree with that. >> okay. >> the speaker of the house has control over his caucus, not control but he has the confidence of his caucus and i think it's sort of a "new york times" spin event that the speaker doesn't have that. the simple fact is that the speaker does have that. ing to be a comprehensive it's agreement where the entitlement savings will be justified, will be significant enough so that you can justify tax reform that can be sold to the membership of the house. >> ed, you need to respond to that? >> no, i actually agree with that, nancy pelosi did it for health care and got the blue do
i don't think mitch mcconnell's was. >> neither was harry reid for that matter. >> that's fair. >> this agreement, becky, is going to be between the speaker and the president. be honest if you want to do this agreement the speaker and the president should sit down without any staff in the room and reach the parameters of it. >> can they do that before boehner goes with his party for just to make sure he's still the leader? i've heard you have to wait until the end of --...
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Feb 17, 2012
02/12
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i don't think anybody doubts having struck this agreement between republicans and democrats mitch mcconnell will deliver enough votes to make this law. it extends the payroll tax cut $40 a week for the average worker through the end of 2012. that is expected to boost the economy. the obama administration hopes for. extends unemployment benefits up to 73 weeks down from 99 weeks in some states. includes the so-called doc fix to give reimbursements from doctors provided under medicare. fiscal conservatives don't like the fact it will add $90 billion to the deficit over the next ten years. republicans thought passing this and moving on to other issues was better for them politically. >> john harwood in washington with the house side of that payroll tax cut extension. >> courtney reagan on the floor of the nyse. we've been hanging in moderate ranges. >> it's a narrow trading range on the dow and s&p. s&p dipped onto that negative territory but did bump back up around the time we saw european close. it's been interesting here. we are paying attention to the greek headlines. we've been here how m
i don't think anybody doubts having struck this agreement between republicans and democrats mitch mcconnell will deliver enough votes to make this law. it extends the payroll tax cut $40 a week for the average worker through the end of 2012. that is expected to boost the economy. the obama administration hopes for. extends unemployment benefits up to 73 weeks down from 99 weeks in some states. includes the so-called doc fix to give reimbursements from doctors provided under medicare. fiscal...
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Jun 25, 2012
06/12
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>> reporter: yes, and mitch mcconnell, the senate republican leader who's been one of the leading supporters of limiting campaign spending, he praised what he calls the first amendment implications of citizens united and said that the explosion in corporate spending simply hasn't occurred. and i will note, i wrote a piece about this in "the new york times" over the weekend, certainly publicly traded corporations have not jumped into this fray and a lot of the things that have gone on in the presidential race this time that have people lamenting the influence of money and politics don't flow from citizens united. >> interesting this idea, john, of policy defeat being fuel for your campaign. how long does that last if, in fact, say for instance it does, like the arizona law, it is -- some parts are upheld, some parts are knocked down? is that also potentially a boon for the politics of the reelection campaign? >> reporter: yes. look, if this arizona law is kept standing in the provisions that hispanics like the least, that is to say, the provisions allowing law enforcement officials to check i
>> reporter: yes, and mitch mcconnell, the senate republican leader who's been one of the leading supporters of limiting campaign spending, he praised what he calls the first amendment implications of citizens united and said that the explosion in corporate spending simply hasn't occurred. and i will note, i wrote a piece about this in "the new york times" over the weekend, certainly publicly traded corporations have not jumped into this fray and a lot of the things that have...
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Dec 11, 2012
12/12
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so one of the challenges that boehner or mitch mcconnell has is you need to be one voice as the president's one voice but you have a lot of members. >> what about hedge funds? don't raise the rates, just make them pay the rates. make them pay ordinary income. i'm always surprised, you convert ordinary income rates to capital gains, that's not what people do. just pay ordinary, right? you agree to that. they don't have to raise the rates. >> did you readed article that harvard is the hedge fund that has the university on the side? >> i don't know. >> $27 billion hedge fund. >> you agree with me they ought to switch the rate with ordinary income. >> i'm not -- look, it's a tax increase but you can offset it by tax cuts elsewhere. you could do tax reform in such a way that long as it doesn't net money to the government. if the government sees additional cash they go, oh, and they drop all the reform plans they had, they take the new money and they spent it. >> but there are going to be additional revenue. republicans, including boehner himself, have said there will be new revenues that come, w
so one of the challenges that boehner or mitch mcconnell has is you need to be one voice as the president's one voice but you have a lot of members. >> what about hedge funds? don't raise the rates, just make them pay the rates. make them pay ordinary income. i'm always surprised, you convert ordinary income rates to capital gains, that's not what people do. just pay ordinary, right? you agree to that. they don't have to raise the rates. >> did you readed article that harvard is the...